Skip to main content

tv   Bloomberg Markets Asia  Bloomberg  February 11, 2020 9:00pm-11:00pm EST

9:00 pm
tom: -- : investors in the u.s. are still hanging onto optimism that perhaps the coronavirus would derail an optimistic outlook when it comes to the economic forecast, as well as corporate earnings season getting underway. where you are in the u.s., this is all about politics. we are awaiting results out of the new hampshire primaries, but already some upsets when it comes to democratic candidates. we have seen a few dropouts, bernie sanders leading in the polls so far, but in the markets it is all about coronavirus headlines and central-banks easing. we are keeping an eye on what happened to the outbreak, now impacting asian economies. let's get the latest on the market with sarah ponczek, our assets reported. sarah: it is a mixed picture
9:01 pm
across asia pacific, the bank of new zealand held the cash rate steady at 1% as expected, but we saw highs of the session after the benchmark hit a fresh record high, still up by .5 percentage, and at the same time the japanese nikkei is higher by .5% above its 50 day moving average, being helped by very strong gains in softbank. the one moving to the downside is the csi 500 for china mainland stocks, but you have to put it in perspective. remember, this comes after a 7% gain we have seen over the past week or so, after the initial lunar new year holiday losses. to the upside, we are seeing the hong kong hong sang above .4% read let's look at the board for big winners and losers across the asia-pacific region. one of them is softbank, up nearly 13%, the best day in a year for the company, after
9:02 pm
approval of the company's sale of sprint to t-mobile. on the downside, i-8 a group -- aida group, a construction company missing the lowest estimate, down more than 10% at the moment, the worst day for the company since 2017. i want to take a look at u.s. fromes as we await results the new hampshire primary, modestly higher but not doing much after the s&p 500 index closed at record highs and regular trading. back to you. our cross assets reporter sarah ponczek with the latest on markets in new york. top stories, coronavirus cases continue to rise, now at more than 43,000. the outbreak as been given an official name by the world health organization. >> we now have a name for the covid-19.d it is
9:03 pm
i will spell it. i-d,-19. in selina's bring wang and yvonne man in hong kong. selina, any trick -- any trajectory from these latest numbers? the death toll is now at least 1100, a significant number, but still far lower than the more than 2000 cases have happened every day of the past --k, so reachers truth researchers are cautiously optimistic there is stable asian -- there is stabilization in those numbers, but it is too early to tell whether
9:04 pm
containment is successful, you saw the director general giving id-19,rus the name cov to prevent the use of other names that could be inaccurate or stigmatizing. the director general of the world health organization said they will host a conference of hundreds of scientists worldwide to map out a prioritization plan for health care. the earliest vaccine is still at least 18 months away, so they are sending supplies to countries to help diagnose and treat patients around the world. yvonne, we are seeing the nightmare at sea continue with more infections on that cruise ship in japan? yvonne: i think we have seen a couple of more cases, and this still remains the biggest outbreak outside of china. theof yokohama, this is diamond princess cruises, and we learned from the cdc as well warning about these types of quarantines. when you put this month of
9:05 pm
people under isolation on a cruise ship, that actually presents an issue, particularly when it comes to the elderly, who are at risk of complications from this virus. so they are still exploring the safest option. meanwhile, the holland american ship is still at sea after five ports denied it to disembark on concern there was a coronavirus case on board. the company has denied that, but we still continue to see governments under fear as they struggle to contain this virus. at this point it seems they are running out of options, but there is a ray of hope from the who, saying they may be able to send health officials on board to check the health of the passengers there. shery: we are getting the latest coronavirus case numbers, china reporting 2015 additional cases
9:06 pm
as of today, again, china reporting 2015 additional coronavirus cases. we are also at the moment rbn governor adrian rb holding steady at 1%, enzi governor adrian -- ,bnz governor adrian orr holding steady at 1%, as the 2 1113,ll rises by 97, again, the death toll rising by 1113, the latest numbers out of china, beijing reporting theupdated death toll in latest coronavirus cases. we continue to see the impact on the chinese economy, and yet president xi jinping seems
9:07 pm
confident underachieving he's economic goals. pledgingi jinping china is going to meet its economic and also social development goals during the coronavirus, that according to a call xi jinping had to indonesian leaders, as officials become increasingly concerned about how exactly to balance fighting and containing the virus while trying to increase economic activity. the government expects 160 million people to return to their cities by february 18. you have seen statements from the government to encourage regions that have been affected by the coronavirus to accelerate production to make up for that lost time, but a lot of challenges to factories that are starting to resume production. they have minimum government requirements including making sure that plants have enough masks, hand sanitizers and protective equipment, so some plants can't start up again
9:08 pm
because of shortages of those equipment -- because of shortages of that equipment. and other plants are facing challenges because of travel restrictions and quarantines. 5.8%, downecast is from 5.9%. we have noted there has been criticism from certain parts in the way mainland china and hong kong have handled the response, but singapore is winning praise. yvonne: and up until today, singapore actually had more cases than hong kong, but in the last 24 hours we got seven more in the city, so that brings the total number to 49 now, singapore i believe a 45. werew scenes were people panic binding toilet paper and facemasks, but that has calmed down after the prime minister released a nine minute video reassuring people that fear
9:09 pm
itself perhaps does more harm than the virus, saying that this disease is not as deadly as what we saw with sars. the government is going to be changing its approach if the got -- if the virus is widespread, but they will inform citizens every step of the way, according to the president, so they get an singapore, can't say the same for hong kong, with criticized,eing adding to distrust we have seen in the government after months of political protests. man in hong kong, thank you, and thank you to correspondent selina wang in beijing. you can get the latest coronavirus figures running the as the virus number of corona cases -- the
9:10 pm
number of coronavirus cases increases. you can get information on how specific companies may be exposed. let's get first word news with su keenan. su: the latest on the election --nt, vernie sanders israel is leading the new hampshire primary in early returns a put him ahead of mayor pete buttigieg and amy klobuchar and third. seems to be a bad day for former vice president joe biden, acknowledged as the frontrunner before the iowa caucus but he came in fourth place, slightly ahead of elizabeth warren. andrew yang says he can't win and is dropping out of the democratic race. full results are expected later. ♪ fed chairman jay powell says policymakers are on high alert over the coronavirus outbreak and its threat to the u.s. economy, adding he is ready to act if needed. addressing lawmakers on capitol hill, he said the infection will have an impact on the u.s., with the only questions being the
9:11 pm
scope and persistence of damage. powell added he remains optimistic about the u.s. economy. ♪ senate majority leader mitch mcconnell is urging lawmakers to reject a bill that would restrict president trump's ability to take military action against iran. some republicans are joining democrats on that bill after hearing the administration's justification for killing and rainy in general. mcconnell says the senate measure would limit the military's ability to defend the u.s.. low isive financier joe facing charges related to malaysia's imdb scandal. -- 1mdb scandal, with the potential loss of billions of dollars.
9:12 pm
$4. prosecutors believe billion was siphoned off the investment fund. the accused face up to 20 years in jail. global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm su keenan. this is bloomberg. ♪ tom: -- still ahead, goldman sachs' chief asian economist andrew tilton joins us, amid warnings growth could fall below 4%. from an air live show with the ceo of sri lankan airlines and we will ask him about the controversy with airbus. this is bloomberg. ♪
9:13 pm
9:14 pm
♪ tom: it is day 2 --
9:15 pm
haidi: it is day two of the biggest asian error defense gathering with the coronavirus putting a damper on the air show, several companies deciding to stay away. asianget to our southeast correspondent, who is very much there at the air show. itif it is even possible for to be quieter, today you walk around the air show and you realize some booths are shut. it is just day two. usually it isn't until the end of the week. we are hearing reports about how some companies have sent lower-level executives to represent them at this airshow. it is not looking good. in terms of deals, we don't know yet, but we don't expect any mega deals to be signed, unlike other airshows before this. let's get perspective on the airline industry. airline ceo from sri lankan airlines vipula gunatilleka joins us. this is the airline that is only
9:16 pm
beginning to recover from the easter attack recently. good to have you with us. give us a sense of how sri lankan airlines has been impacted by challenges from the coronavirus and the scandal involving airbus as well. haslinda.od morning, good to be back in singapore, my hometown a couple of years ago. thanankan is not different any other airlines, the industry is going through many challenges, economic issues, and now the corona. we are coping with that at the moment, like the other carriers, and we have done some consolidations. we will continue like this for a week or two to get a real assessment of the situation. haslinda: you are already
9:17 pm
struggling to return to profitability. in a sense of numbers, can you shed some light? easter was quite a setback for us, but i was very proud of what we did over easter. recovering, our numbers are generally only $10 million minas, significant compared to last year when i think we were $55 million minus. we came under pressure due to but inwdown in demand, many aspects, and customer ineriences, and raising more technology to improve our online services on our online platforms, so that has helped us. the airlines mired in
9:18 pm
the airbus scandal, is that perhaps changing the way you view strategy in terms of aircraft? would you be perhaps looking at boeing as an alternative? we could be, but our fleet at the moment is only 25, going up to 34 in the next few years. but in these kinds of things, these kinds of decisions scale matters. the traveling public has more options available now, so it is something we need to look at anyway. optionsook at certain if it is required and if it is necessary in terms of financial attractiveness. looking atre you legal options against airbus, perhaps compensation to deal with reputational damage has been done to airlines? hasla: our president already assured we will take the necessary steps and the board is behind that.
9:19 pm
it is too early to comment, but we will do the right thing by the airline and by the country. haslinda: are you looking for compensation? it is too early to comment on that but we have that option as well, if required. haslinda: as a means of helping the airline recover, the airline has been looking at a stake sale of up to 49%. where can we expect a decision -- where are you on that and when can we expect a decision? vipula: nothing has materialized, so we want to basically being the airline to a and then have a viable business plan. it is not the only option, there are many other options like a private-public partnership, so maybe management will have that as an option, but it is still premature to discuss any of
9:20 pm
those. at the moment our focus is to to a decentrline state. haslinda: does the government of a view on this? vipula: the airline is an economic priority for them, because it has a great deal to do with the national economy. they grounded our flight to wuhan. a special flight. so it is not something [indiscernible] so much: we thank you for your insights. the ceo of sri lankan airlines, vipula gunatilleka, giving us a sense of where the airline is positioning itself in the midst of all the challenges it is experiencing. shery: thank you. let's look at the kiwi dollar,
9:21 pm
surging after the army sent the signal -- after the bank sent a signal that the cash rate would be left at 1%. vanke governor adrian orr is briefing the press on his decision and is saying that ocr at 1% is very stimulatory and is pleased to see inflation expectations around 2%. the kiwi dollar now gaining ground, jumping 1%, government bonds also extending losses with the 10-year yield climbing as the governor expressed his thoughts on the cash rate staying at 1%. this is bloomberg. ♪
9:22 pm
9:23 pm
♪ in the u.s., we are watching the results of the new hampshire primary, senator bernie sanders leading the way.
9:24 pm
our chief washington correspondent kevin cirilli joins us from manchester. is bernie sanders the front runner clearly, or will we see, little -- a mottled result like ddled result like iowa? kevin: senator bernie sanders appears to have a big night, but the other big development is amy klobuchar is apparently in third place, she needed to do that for her campaign to continue. meanwhile, lower-tier candidates, former vice president joe biden and senator elizabeth warren, barely cracking 10%, according to results coming in now. biden is going to be talking to his supporters not from new hampshire, but south carolina. campaignby the biden
9:25 pm
that south carolina is where he plans his big campaign, support from the african-american community, but note doubt bernie is going to be trying to broaden his coalition, saying he will be the standardbearer of the party that can defeat the incumbent, donald trump. tom: haidi: -- haidi:rick davis earlier said where we hampshire, is have momentum and heartbreak. where did you see heart break today? kevin: joe biden, without question, not even finishing in third place in somebody who has been leading in national polls for the past two weeks. but also senator elizabeth she represents neighboring new hampshire and she was geographically very close to home, so for her the questions continue enter campaign released him, set only
9:26 pm
delegates are still 98% ofgrabs -- saying the delegates are still up for grabs. however, as rick went to doubt, iowa and new hampshire are a clear sign of momentum and also ability to tap into the donor network and that is something bernie sanders now has to do. a couple of weeks ago there was a clear turning point in this whenon the debate stage warren and sanders went after each other and sanders eclipsed her and warren has not be able to get her footing back ever since that encounter. --: haidi: we are watching joe biden there in carolina. the japanese cabinet secretary speaking in tokyo is saying the patients from
9:27 pm
charter planes may be able to go home tonight. we had four charter planes taking japanese nationals out of the epicenter of the virus in wuhan, just getting that now. this is bloomberg. ♪
9:28 pm
9:29 pm
♪ >> 10:29 a.m. in hong kong and shanghai on 9:29 p.m. in new york, i'm su keenan with first world headlines. the coronavirus outbreak is said to have cost china billions of dollars. rabobank says the infection may have led to losses in the retail and food sector stretching into the many millions. losses during the lunar new year decline assent the much as $120 billion as major and domestic change shut outlets across the country. hong kong meanwhile has suspended all cross-border land
9:30 pm
transportation between the airport in china until further notice as the government tries to stem the impact of the coronavirus. the decision comes as governments take action to skirt travel and other cross-border links with virus deaths now topping 1000 and showing few signs of slowing. hong kong has already imposed quarantine curbs on mainland travelers. ♪ the european union has requested the u.k. request for the london financial services sector to maintain continued access to the single market and this will happen even if the country abandons block regulations after brexit. the u.k. treasury is demanding banking equivalent as part of its post-split talks, but the top eu negotiator said there won't be any open-ended liaison between the two sides. ♪ this is bloomberg. ♪ -- global news, 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i'm su keenan. this is bloomberg.
9:31 pm
♪ asian stocks gaining ground for a second session. --'s get cross out reporters cross asset reporter sarah ponczek. down at thewere start of trading and are up again. are investors going all in on risk? sarah: i wouldn't say all in yet. there is a tendency toward risk but there is still trepidation and caution. you can see that if you look at depressed global bond yields. the bond rally we have seen over the past year or so, if you were to look at returns and which encz marks have been performing thatest, it is a picture points to risk. year to date you see the s&p 500 9%,x up 4%, nasdaq 500 up both closing out records in the u.s., kiwi stocks in new zealand up 3.5% on the year but today on a fresh record high. within the u.s. you look at the best-performing industry group
9:32 pm
and that is software stocks, you could argue that is the defensive area of technology but it comes with higher valuations. and they are an area that has led the bull market the past 10 years, so certainly a tendency toward risk but i would say as of right now we are not seeing the all in feel where investors jump in hand over foot to go all in. tom: haidi: haidi: between -- between the coronavirus and central-bank action, what are investors focused on? payh: there is a lot to attention to. liquidity is very important, we know the pboc is pumping chinese markets would liquidity. we have seen the fed in the , thed states taking action repo markets however, they have been adding to assets on their balance sheet, so coronavirus --y rotten center right now
9:33 pm
very front and center right now. we need confirmation that the growth rate is slowing coming we may hit a peak later this month and we will get economic data that will encompass the coronavirus levels, and you can see mainland chinese stocks down 3% for the year but still roughly 6% off free coronavirus level highs, so we have a ways to go to make up ground. on top of that, politics being very much paid attention to, particularly in the u.s. as we await results from the new hampshire primary. and also central banks, we have for german jerome powell and we also heard from the reserve bank of new zealand. chairman jerome powell and we also heard from the reserve bank of new england. bank ofere is what the new zealand and mark carney of
9:34 pm
the bank of new england told jerome powell. >> this is already bigger than sars. >> the people's bank of china has done a number of things to support economic activity. and i think you can expect the chinese government to do lots of things to support economic activity. >> in general, the experience has been with pandemics that they can have quite significant impacts, but much of it is recovered. >> there will very likely be some effect on the united states. it is just too early to say. chinese president jie zheng paying has pledged china will meet its economic and social development goals, even as it struggles to contain the impact of the virus, this comes as economists cut forecasts for the country, goldman sachs's revised outlook is one that has been cut. let's get to chief asia economist andrew tilton.
9:35 pm
andrew, great to have you, this is a phone call president xi had, and said china will be more prosperous after they overcome this crisis. is this just as show of confidence between two leaders having a conversation, or will they had growth targets this year? broadly we still think it is possible to get close. a couple of targets are relevant. the widely-to expected target of 6% gdp growth for this year, that is going to be very challenging under the circumstances. we are forecasting 5.5% growth for 2020, with some risk to the downside. but another target is doubling income over the past decade, from 2010 to 2020. to get there, more like 5.5% would still get you over the line. especially if that is
9:36 pm
interpreted a bit loosely, that is still a possibility. to be toughng quarter with a shop dropping economic activity. we actually have activity dropping quarter on quarter for the first time in a few decades. but we should see a relatively quick rebound if the virus spread and be controlled. it -- how does difficult is it make things for central banks, but specifically the pboc? chart,to throw on this the market is very aggressively pricing in lower rates. we know that lower prime rates will probably come down, in that sense you have the pboc saying financial stability is still keye key -- their objective. what is the ideal policy response? is natural for policy
9:37 pm
to ease in response to this. morenk you had conservative policy settings over the past three or four years, with policymakers generally trying to limit stimulus to the minimum necessary to keep the economy roughly on track. near-termd that, the outlook has deteriorated and they will have to do a bit more than they claimed earlier in the year, so frontloading fiscal raising, for example more special bond funding for infrastructure spending, and we are seeing that. as you mentioned, injecting liquidity, lowering interest rates, these are things that will persist or a little while, even after the economy has started to rebound, to ensure we get the kind of rebound in growth in q2 and q3 that can put the economy on track to come somewhere near 5.5% for the year. shery: what will that due to the huge amounts of debt that china already has?
9:38 pm
andrew: in the past couple of years, you have seen signs that the debt ratio is a stabilizing. decelerated and came into mind -- and came into line with gdp growth, stabilizing the debt ratio, an encouraging sign that the excess credit-flow problem had been dealt with. i think you will have backsliding there this year, simply because of the priority for supporting growth in the very near term, so lowering rates, easing liquidity, will help to accelerate credit growth a little bit. returndon't anticipate a to the very large-scale credit stimulus of old. and we think with lower rates, authorities are attempting to ensure we don't see a big pick up and credit stresses. they have been clear they want financial institutions to rollover loans are not cut off enterprises that have been badly affected in the short run by the virus outbreak. in particular when it comes to
9:39 pm
larger companies that hold most of the debtor issue most of the see a reasonable stance of forbearance towards these companies in the near term. shery: what about the removal of tariffs because of the face-one u.s.-china trade deal, how much of that will offset pressure on the chinese economy? andrew: in the grand scheme, that is a small factor. we are talking about a relatively narrow range of goods for which tariffs were lowered slightly. i think in the broad inflationary picture, that is not going to be a major driver. the near-term problem is food excessand inflation, in of 5% year-over-year in the latest reading of the cpi. we and most others expect those pressures to come off somewhat over the course of the year, but inflation is one of the interesting median-term implications from the virus.
9:40 pm
in recent weeks there has been a natural focus on the spread of the virus, how it is going with regard to containment, how damaging the virus is going to be, and now we are starting to hear questions from clients about some of the medium-term effects, the implications for supply chains around the region, the impact on inflation, the labor market, are we going to see a significant playoff -- significant layoffs around the country, particularly in smes because of difficult core conditions over the past few weeks. goldman chat -- goldman sacs chief asia economist andrew tilton, thank you for joining us. coming up, experience and one of the world's busiest capital markets. the interview ahead. this is bloomberg. ♪
9:41 pm
9:42 pm
♪ this is ""bloomberg
9:43 pm
markets asia." minister's narendra lost elections after citizenship law that led to countrywide protests. what does the loss of another state mean for modi? all-powerful at the federal level, so in one sense it will have little impact on him. indian voters regularly vote one way at the state level in a different way at the central it has outsized political importance in delhi as the nation's capital. haidi: where did the party go wrong in this campaign? if there is introspection going on, what would they be talking about?
9:44 pm
don't know if there is a lot of introspection going on. while the winning party focused on its achievements over the last four years, improving schools, setting up neighborhood 11 makes, cheap water and electricity, modi's party doubled down on the divisive law, of the citizenship and it devoted time against protesters staging demonstrations against the law. that really backfired on them. there is no sign they are doing introspection on that. are also seeing president trump announce he is visiting india this month. what are we expecting from this visit? trump is allnt about trade, so there is an expectation that the two countries will overcome their differences and work out a deal to reduce the indian trade surplus with the u.s.
9:45 pm
following his face-one trade pact in china in december, a partial treaty with india could really help trump register another policy victory in the 2020 election year. ruth pollard, bloomberg's southeast and south asia editor, and the aftermath of the deli vote, thank you. we are counting down to the opening of the markets in india right now, this is a look ahead to that session, we are up about 3/10 of 1% on traded futures. let's get to our reporter -- standing by. what are the political implications of this loss? much in terms of the win in delhi and its reflection on equity markets. equity markets in india are
9:46 pm
following global cues on the coronavirus update and what is happening in u.s. equity markets and in asia across the board. we will likely see a slight moderation in terms of the opening, a positive by with the higher, -- trading s&p 500 index futures trading higher. , the stocks led the rally higher nifty bank, about three quarters of percent higher. it suggests the range would be 2200 on the nifty on the upside. aside from that, much of the action of the broader markets was on the back of earnings, big
9:47 pm
caps-- big caps and small underperformed in yesterday's session. a clear win for mid-caps and small caps. reporting, what are brokerages saying? the index reporting numbers yesterday are mainly in line with expectations. a morgan put out a note, target size of 275 at the top -- at the stock is trading at 179 right now but there is an upside. improvement after a week second and third quarter. ofre was a downside because an expectation of volatility but that didn't pan out. there could be some kind of dividend announcement.
9:48 pm
shery: thank you for joining us move by, by -- from mumbai. from -- what are your key takeaways? laura is the first woman, laura cha is the first woman to hold the position, helped rebuild hong kong market after the crash in 1987 than she was there one hong kong lost the hkex, so she can take credit for successes hong kong has seen. if you look at her background, she had a late start to her career, she was a full-time housewife for six years in the u.s. bringing up two kids, so pretty impressive that despite the late start she has made an impressive run after that. shey conversation with her,
9:49 pm
said quality is a priority, especially when numbers in hong kong don't add up. take a listen. ura: i think whether it is a man or woman chairman, he or she will face the same kind of challenges that come with being chairman of an exchange, chairman of an exchange at then ever-revolving time. full oft year was challenges that we did not expect. no one could have expected that. ourselves,to equip and that is gender blind i think. haslinda: it has been an interesting journey, you were a full-time housewife in the u.s. for six years taking care of your two kids. how was the transition, and what does it take to make it? i stayed home for six years and went to law school.
9:50 pm
i graduated college, stayed home for six years, then he went back to law school, and then from law school i went straight into full-time work. so the six years staying at home gave me a good footing in managing the kids. i felt i was being pulled from different sides, and by the time i went for law school, my academic diary was the same as the kids. older,y were already when i started my career appeared so it has worked out well. haslinda: what advice would you give to women trying to make it to the top? laura: one does have to make one's priority clear. i used to say that we can have everything, but not all at the same time, at different stages of our careers. and every person, is different.
9:51 pm
so we just have to see and gauge stage,selves at what what would be the priority, and would go after those priorities. haslinda: laura cha from the cold in davos to the sunshine here. 34% of companies in hong kong still don't have a woman on the 50 companies listed on the hong kong exchange still have no women at all, so a lot of work to be done. some progress and a lot of work to be done. thank you, haslinda from the singapore air show. numbers are in from the new hampshire primary. the next big contest in the democratic race to unseat donald trump will happen and we will have it for you, the latest live from manchester, new hampshire. this is bloomberg. ♪
9:52 pm
9:53 pm
♪ shery: let's get back to tonight's new hampshire primary, senator bernie sanders leading in the results. chief washington correspondent kevin cirilli joins us again from manchester. kevin: there is cautious optimism among sanders supporters, fired up, chanting and awaiting bernie sanders.
9:54 pm
official results have not been declared, but senator amy klobuchar, still in third place in the early results. she addressed her supporters and has the campaign now momentum to keep moving forward. i'm looking behind me as the crowd really reacts to more strong indicators that bernie sanders is poised to have a significant night, but the other big story is amy klobuchar, that she will be able to go to new york tomorrow and appeal to her donors for taking the case for -- for taking the race forward. joe biden also spoke to his supporters, but the south -- but from south carolina. not from here, from south carolina. i am told by his advisers that he is really dug in, and south carolina, and is using that as a firewall. that state has a strong showing of african-american voters in the constituency, and he feels
9:55 pm
he will be able to rally voters in the african-american community to really inject life into his campaign haidi: the big question -- his campaign. isdi: the biggest question the result of new hampshire, but what about the momentum going into the race to unseat president trump? down, itter turnout is was down in iowa compared to 2016, it is trending down in new hampshire, and we will know for sure tomorrow, but that is not good news for democrats. some democrats are saying that shows democrats will ultimately vote for whomever the nominee is republicansy, but say they feel they have enthusiasm. strategist who says they have momentum. shery: kevin cirilli in
9:56 pm
manchester, thank you. bloomberg subscribers can follow the latest on the results on our tlive. picture, index a mixed gaining .6% above its 30-day average, flirting with that level the last couple of days and now. the shanghai composite is under pressure after six sessions of gains. surgingei gaining .6%, the most in a year after the sprint-t-mobile merger was approved. plenty more to come. this is bloomberg. ♪
9:57 pm
9:58 pm
9:59 pm
♪ a most 11:00 in singapore, 8:30 here. i am paul allen in sydney. bernie sanders and pete to judge lead in new hampshire. andd night for joe biden elizabeth warren. coronavirus numbers continue to the and the cost of economic fallout is escalating. another election defeat for modi, who asks where the deli result leaves his controversial citizenship law. this is bloomberg. ♪
10:00 pm
asia stocks are next up in the major market opens. let's go over to cross asset reporter sarah in new york. what do you see? >> is a mixed picture. he restocks up half a percent. earlier today, they did touch records, although we are off session highs. ofs after the reserve bank new zealand did hold the cash rate steady at 1%. in the currency markets, we are nikkei up by large .5%. softbank having its best day of the year after the approval of its sale of sprint to t-mobile, holding a 50 day moving average.
10:01 pm
it has been fluctuating between gains and losses, right now trading to the downside by 1/10 of 1%. the han seng moving up .5%. commodity conflicts, it really is a picture of risk for a second day. crude oil up more than 1%. brent crude oil up near 2%, nearing $55 per barrel. above $50 per barrel, climbing for a second straight day. copper futures up .5%. lower, as thegold bid for safety has faded. analysts earlier said when it comes to commodities, they think asymmetrically, we are priced for commodities. risk commodities could move five -- move higher from here. reporter sarahet
10:02 pm
ponczek. let's get an update on the coronavirus. china says the death toll has topped 1100 as more cases continue to be found across asia. that has president xi jinping vowing to read -- to meet economic goals while beating the outbreak. china correspondent selena weighing in beijing and anchor fillon man in hong kong. can you tell us with the latest developments are today? selina: the number of confirmed cases rising. 8 cases.ional 1,63 that is the lowest daily level this month and an encouraging sign for health experts trying to figure out when it could. numbers coming down from previous days. a positive sign, still too early to say whether containment has worked. the world health organization has unveiled a name for the
10:03 pm
divvies, that is caused by the new coronavirus called covid-19. the press briefing emphasized it is important to give a name to prevent other names that could be inaccurate or stigmatizing. they are trying to figure out the health care priorities here. the development of a vaccine is still 18 months away, so they are trying to rapidly increase supplies to other countries to prevent and educate other countries about treatment options. china areh offices in starting to ramp up business again, a lot of aspects of outside of their house once every four days. and difficulties as cities
10:04 pm
across china come back to life. yvonne, outside of china, there is outgoing development of a cruise ship that is quarantined in yokohama. more cases found there. united states raising a travel advisory for hong kong. yvonne: when it comes to the cruise liner, we saw 39 additional cases. 174,brings the total to and that ship is still quarantined off of yokohama. we learned of a quarantine officer who was on board doing health checks who also contracted the disease. a bit alarming on that front. this is coming at a time when japan is stepping up measures. they are banning the entry of foreigners who have visited that province. expanding the band already had on hubei which is the epicenter. talking about quarantines, saying there is a risk of putting so many people on these
10:05 pm
cruise ships and under isolation. they could present in issue, particularly when it comes to the elderly, who are at risk of complications. they are assessing all of the options at this point and you mentioned the u.s., raising its travel advisory to hong kong level two which is exercise extreme caution. still far from what we saw with the u.s. upgrading china to a level four, which is do not travel and that is the highest level yet. do we have more of a sense of what the fallout is going to be on the trade front to the economy? selina: xi jinping pledged that china will be meeting economic and social development goals despite the fallout from the coronavirus. govern officials are trying to aapple with how to contain virus while increasing economic activity. the countries expecting 160
10:06 pm
million people to return by february 18. a big influx of workers but many companies and factories are dealing with stringent requirements. beingof them are restrained, because they can't get enough equipment. other factors are dealing with employees coming back because of a quarantine. i want to zoom in on a sector that has been battered by the coronavirus, which is home sales . according to pulmonary data, it has dropped 90% from a year earlier as some cities are banning home sales to contain the outbreak. others are restricting home construction. it will a sense of when peak and be contained. just to give you a perspective, fewer than four units per day are being sold.
10:07 pm
one country winning praise for his response is singapore. what is the city state getting right? yvonne: it seems like communication wise, they are getting applause from the international community. up until today, singapore had more cases than hong kong. that switched because hong kong has 49, singapore 47. we saw similar themes in the line city to the panic we see here. people lining up for facemasks. it seem like that has calmed down after the prime minister released a video reassuring singaporeans that the fear is more harmful than a virus, saying it is less deadly than sars. the government is going to make a change in approach if this is more widespread and they will inform the public every step of the way. hongpore does get in a,
10:08 pm
kong can't say the same. the government has fumbled on so many different levels when it comes to communication, whether it is whether to wear a mask or not, closing down borders with china, and not alleviating the concerns of the panic we are seeing for food and supplies. paul: bloomberg markets yvonne andand court -- corresponded suing a wing. that's check in on the first word news. with fedl start chairman jay powell, who says policymakers on high alert over the coronavirus outbreak as well as its spread -- its threat to the u.s. economy. he has added that he is ready to act if needed. lawmakers on capitol hill said it will have an impact on the u.s. with the only questions being the scope and the extent of the damage. powell added he remains optimistic on the economy and growth. results,o election
10:09 pm
bernie sanders is leading the election -- leading the primary. early returns put him ahead of pete buttigieg with amy klobuchar in third, elizabeth warren and forth in former vice president joe biden is in fifth. the national front runner headed into last week. cannot win says he and is dropping out of the democratic race. we will have a live report from new hampshire in 15 minutes. senate republican leader mitch mcconnell is urging lawmakers to reject the bill that would restrict president trump's ability to take military action against iran. some republicans are joining democrats in an effort to curb the white house but the administrations just a for killing iranian general qasem soleimani. mcconnell says the senate measure would severely limit the military's ability to defend the u.s.
10:10 pm
isitive financier jho low facing new charges related to malaysia's 1mdb scandal. they are accused of criminal conspiracy with the former prime minister as an inquiry into the potential loss of billions of dollars. u.s. policymakers estimate $4 million have gone into the investment fund. the accused conveys 20 years in jail. global news 24 hours a day on air and on quick take by bloomberg, powered by 27 other journalists and analysts i more than 120 countries. i am su keenan. this is bloomberg. ♪ haslinda: thanks so much for that. still ahead, singapore prepares a strong package to tackle the coronavirus crisis. here more for my exclusive
10:11 pm
interview with the cochair of the city state virus task force later. why emerging markets may outperform u.s. equities once they a but dies down. we discussed the outlook and next. this is bloomberg. ♪
10:12 pm
10:13 pm
>> we are closely monitoring the emergence of the coronavirus, which could lead to disruptions in china that spill over to the rest of the global economy. >> this is from an economic perspective or than sars. >> the people's bank of china has done a number of things to support economic activity and a think you can expect the chinese government to do lots of things to support economic activity. >> in general, the experience has been with pandemics that they can have quite significant
10:14 pm
impacts, but much of it is recovered. >> we know that there will likely be some effects on the united states. i think it is too early to say. paul: that you have fed chair jerome powell in bank of england governor mark carney weighing in on the virus' potential economic impact. for more from hong kong, asia accra strategist. -- macro strategist. they are saying you can't expect any policy response yet, but how about these other economies? how closely should we watch the central banks in south korea or new zealand? there will bely, a strong response from china in the remainder of the year. the incentive for an all in
10:15 pm
measure is extremely strong. that will really set the tone for the market. there will be a combined monitoring on the fiscal side. further into the health care system, of course we growth in china. believe in february and april, we think just to achieve the goal and of course we are ready to implement that in the second quarter. as for the surrounding central obviously buyers will need to enter -- to mitigate the impact from china in the first quarter. we wouldn't rule out additional by australian or new zealand central banks as well as more trade exposed countries
10:16 pm
like south korea or thailand. at the same time, domestically they are dealing with the potential issue of interest .ates they will probably rate -- wait for the beta to come out, showing clearly the negative impact, and then they will act afterward. the more likely timeline for them to act will be in the middle of the year. that is our current expectation. paul: let's talk a little bit about the potential for response in china. i have a chart on the bloomberg terminal. you will be able to see it, but it does illustrate that expectations in china were falling. the five year interest rate was down the most since 2016. i guess you would expect this kind of response, but what is the chance of rates going lower still? >> we think the chances high.
10:17 pm
we think in the first half of the year, it is possible for ratesto lower the reverse by roughly 40 basis points down cuts, so the prime rates can fall. we definitely think the market thectations as far as policy expectations go. it makes sense for them right now. i think the chinese are very keen in that means they need to , probablyits measures to second quarter. startng the leadership to stabilizing the economy. we are seeing in
10:18 pm
outperformance in u.s. assets? how long could this performance be before, given that optimism has been driven by a resilient u.s. economy that is growing at only 2%? given all the uncertainty. obviously, the u.s. -- emerging markets have due to anrmed unexpected outbreak. our guess is that for the u.s. the final phase of outperformance. if you look at the market expectations that the u.s. can deliver, the bottom line is double digits. that is not going to happen with dollar at this strong level and with emerging markets not out of the woods yet.
10:19 pm
regarding the outbreak, especially in asia. you have to think about where the market will be when emerging asia finally emerges from this epidemic. also, they start benefiting from normalizing trade and activities. we think in this scenario, emerging markets in asia are better positioned to benefit, compared to the u.s.. we will argue that it has been a difficult call so far, but just looking at what is possible in the second have, we still argue that it is more likely to outperform the u.s. for the remainder of the year. are you recommending exposure to asia threat? where should smart money be? we believe there are
10:20 pm
both theockets in bottom rung of investment and high-yield. to provide aninue interesting selection of opportunities. last year was a spectacular year for asia credit. going forward, that will require more. given discussions in the market, we think you can meaningfully outperform any credit space versus europe, where the levels are low and the spreads are tight. ofthink just in terms outperformance potential, still asia is the place to be and you can maybe mix it up with slight exposures to latin america, but
10:21 pm
that will still start with the asian sector. homin lee, asia macro strategist. he is saying that markets will recover in the second half. still to come, we will get the latest on the new hampshire .rimary who is in the lead and who is bowing out? that is next. this is bloomberg. ♪
10:22 pm
10:23 pm
paul: let's take a look at how we are trading on china markets right now. ,uiet on the shanghai composite just very immodest gains on the way. if we take a look at china, a different story.
10:24 pm
up by almost 2%. shenzhen higher by two thirds of 1%. 1/5. the death toll from the coronavirus now at 1,115. haslinda. now to theeturn u.s., where bernie sanders is leading the new hampshire primary. chief washington correspondent kevin cirilli joins us. going inton the lead the primary, but he is in fifth place now. kevin: senator bernie sanders maintaining his lead. pete buttigieg is cutting into that lead. it appears that those two are dominating the pack in early results. senator amy klobuchar picking up third-place consistently through the night, still nearly doubling the turnout of senator elizabeth
10:25 pm
warren and former vice president joe biden. biden trailing senator warren. both biden and warren have addressed supporters, but biden speaking from south carolina. his campaign saying he is going to be committed to rallying his ,upporters in south carolina and upcoming caucus primary state and that he has prepared to continue on through super tuesday. senator amy klobuchar talking to her supporters, saying she is confident with her showing tonight. she beat expectations in will take message to donors. she is expanding upcoming primaries. she tried to position yourself as an alternative in the party, especially as biden declined. a very impressive night for amy klobuchar. what of joe biden? we hear a lot of talk about the firewall in south carolina, but is he possibly overestimating his support among african-american voters?
10:26 pm
anyone whoitionally, has continuously banked on later contests without performing well in earlier contests has never ended up in the nominee. he is not the only candidate doing that. senator bernie sanders and part -- former south bend mayor pete buttigieg performed well. they get the momentum out of that. they also get fundraising out of that. this campaign as a result of the process will continue to look forward, but all indicators is this is a good night for bernie sanders and pete buttigieg. kevin cirilli in manchester. thank you so much for your insight. still to come, we go back to our top story. airshow.cerns at the what does this mean for the aviation industry? i will speak to the coo of the aerospace industries association
10:27 pm
next. this is bloomberg. ♪
10:28 pm
10:29 pm
haslinda: you are looking at live pictures of the lion city. in the middle of a trading day. 40 confirmed coronavirus cases, the highest outside of china. remaind it is time to calm. there is no need to hoard things in the supermarkets. we are coming to you live from the singapore airshow. unlike previous airshows, you would be shoulder to shoulder as we lead up to -- not the case.
10:30 pm
this time around it is pretty quiet. some are closing much earlier than intended on sunday. first up, first word headlines with su keenan in new york. su: we start with the financial impact of the coronavirus. it is said to across china billions of loss dollars the infection may have led to losses in the retail and food sectors into the billions with revenues -- declining 80% over lunar new year. that will represent a decline of $120 billion as major domestic and international chains shut down across the country. hong kong has suspended all cross-border land transportation between the airports and mainland china. until further notice as the government tries to stem the impact of the virus. as governments take action to
10:31 pm
restrict travel. hong kong has already imposed quarantined curbs on mainland travelers. the european union has rejected the u.k.'s request for london's financial services sector to keep continued access to the single markets. even as the country abandoned the bloc's regulations. demandingreasury is banking equivalents. the top e.u. negotiator said that will not be an open ended liaison between the two sides. boris johnson has won the backing of the bank of england as he lays out his economic plans for post-brexit. mark carney says he welcomes the government to focus on improving products -- saying if the rest of the country -- the economy would be larger by a third.
10:32 pm
global news 24 hours a day on air and on quicktake by bloomberg powered by more than 2700 journalists and analysts in more than 120 countries. i am su keenan. this is bloomberg. paul: thanks very much. asia stocks mixed after the major market open. sarah is keeping and i on things in new york. are investors going all in on risk at greece? -- risk equities? >> i would not say they are going all in. the amount of negative yielding debt that is out there and there is some trepidation. at the same time, the tendency is toward risk. you look at the hang seng volatility index moderating for five straight days, the longest streak of the year. at the same time, there is, as we can see right here, many benchmarks touching new record highs around the globe. the s&p and the nasdaq and the united states. you also today had new humans
10:33 pm
zeeland stocks touching record h iighs. those that are leading the way are the software stocks. they still perform well in a high-growth environment. investors hoping we could see a sustained pick up in growth but still weighing the pros and cons. >> there are number of catalyst a balance. the corona violence u.s. politics, central-bank action. what are traders focused on most? there is a lot going on but first and foremost is the coronavirus. any sense that we might be seeing a slowing in the growth rate, that we might see a peak in the spread of the coronavirus later this month, that is on track. we have economic data that will come out this month, and we'll get an idea of what the hard numbers look like. the csi 300 down 3% on the year
10:34 pm
in the u.s., you have politics and then you have jerome powell back on capitol hill yet again tomorrow. sarah, thank you so much for that. we're coming to you live from the singapore airshow where the aerobatics display is about to start. drowningroaring, out voices] the singapore airport. 40 exhibitorsn 1 and 14 military aircraft on display, the largest presence at the singapore airshow. the largest international presence, the american showing is a strong indication of how strong the indo-asia-pacific region is to the u.s. aerospace industry. i have eric fanning, aerospace industry association ceo.
10:35 pm
good to have you with us. it is a vibrant atmosphere right now but not so at this airshow. will that impact the overall sentiment? >> i don't think so. no question it is quiet here. we still have a very healthy a contingent of american companies, the largest contingent of the u.s. military since the show -- those relationships is all indication of how important relationships and partnerships are, that have been around for years. [planes flying overhead, voices drowned out] >> i think the biggest, it is a combination of things right now. on prettyu have debility or uncertainty in the global marketplace, it creates problems for the industry. and real problems for the supply
10:36 pm
chain, the industrial base that supports the industry. so, all of the uncertainty about beingtalks, tariffs levied on the virus on top of that in this region does cause concern that we're monitoring that there is still a very healthy demand for the products that the industry is producing. haslinda: talk about that demand because trade -- was undoubtedly have some kind of impact. >> it does. the supply chain for industry is a global and integrated supply chain. so, anytime you do anything with negotiationsade anywhere in the world it will have ramifications throughout the industry. it takes a while for us to understand what those ramifications are, because there are long-term contracts, long lead orders for supplies and materials. it unfolds sort of slowly but we are watching negotiations very carefully. we're in favor of making sure
10:37 pm
that trade is there. that intellectual property is protected. it's important we maintain the free aspect of trade and provide some predictability to the industry. haslinda: china is becoming quite a competitor in this industry. just at the airshow alone it is showcasing the j-10. and also it's producing its first commercial aircraft. how do you view the challenge from china? >> it is interesting because they are a competitor but in this global marketplace they are also a supplier, also a customer. it realy is integrated across the world. i would say that american well to stand up very any competitor. it is not just the quality of the products. it is the relationships you guy into, that maintenance relationship will make sure that whatever you are buying -- haslinda: geopolitics is at the center -- [plane flies overhead] ine you seen a rise
10:38 pm
government spending because of rising geopolitics? >> i do. and slowly we think global partnerships are important we see our allies and partners spending more to be part of that partnership which is good for us internationally both for the industry but also for those relationships geopolitical. the rising influence aggressionness, whatever you want to call it of china is an aspect. haslinda: we were covering the primaries for the u.s. there was expectation that trump would have a second term as president of the country. what would that mean for the industry? >> it does. whoever is president of the united states has better medicine impact -- haslinda: how do you see that. >> what you will see first of off of defenseng spending or bring it down a little bit. he's also indicated he is looking at other regions where he things about trade issues he
10:39 pm
wants to address. we see perhaps more of the instability in that way for industry planning the we are seeing with what is going on china and mexico and canada. but we're encouraged by the fact that they are coming to agreement on the first round by continuing to negotiate. haslinda: their expectations that -- tensions between the u.s. and china could escalate given a second term of trump in office. to some kind of decoupling in the industry? >> i figure will be very hard to decouple. we are so integrated in the supply chain. there is no question that companies are looking at perhaps diversifying away from china. we're so far down the path and the relationship between the countries and the global economy that i think it complete -- a complete decoupling would be impossible. we have the stage one agreement. they are continuing to negotiate. both sides see an interesting coming to agreement. haslinda: before we let you go,
10:40 pm
i have a question. what trend do you see developing the next 12 to 24 months within the aviation industry? >> the main issue we're going to be watching the impact on the supply chain, what is happening with tariffs and the virus and geopolitical issues going on. that is the main concern but it is a very healthy industry. there is a strong backlog for the products. we look -- [plane flies overhead] haslinda: thank you so much. [inaudible] we're coming to you live from the singapore asher. w-- air show. we have the f-22 up in the air. pretty exciting. overhead]ying delhi.
10:41 pm
we will take a look at all the implications of that. this is bloomberg. ♪
10:42 pm
10:43 pm
>> indians markets have just opened. let's get over to move -- to mumbai. tow day losing a streak -- two day losing streak on saturday. how are things looking to? day? >> we snapped the two day losing streak and we are looking at a positive opening. they are looking much better than what was expecting. we did see the nifty closing around the mark -- it is the earnings season and largely the earnings so far have
10:44 pm
been in line with what the street has been expecting. nifty has opened at levels of, a gain of about 40 points. the broader markets have bounced back and so far in 2020 the broader markets have outperform the frontline. you've got mid cap gaining 7% and small cap up 6%. the nifty 500 has gains of a quarter of a percent. selling in equities back home in india in the last few days. any particular stocks we should be watching at the open? >> oh, yes. some nifty -- in focus. coal india came out with the numbers yesterday. numbers are largely in line. you did see some contraction. the margins had also contracted.
10:45 pm
valuations look attractive compared to historical averages. you have jpmorgan. overweight the target price of 275. the spotlight in today. modi has changed -- moody's has change the outlook to negative. but that is stable. >> in mumbai. let's stay in india. indian prime minister modi lost a hard-fought state election in delhi. and a judgment based on his religion-based citizenship law that led to protests. joining us for more we have our government editor. what does the loss of another state mean for modi? >> well, he's very much a control of the federal level. in one sense, this doesn't
10:46 pm
change the equation a lot. indian voters vote one way at the state level and. a different way at the federal level but delhi hold a lot of political importance as the nation's capital. the third state loss since prime minister modi's national -- last year. party goere did modi's wrong in his campaign for delhi? ruth: the winning party focused on its achievements over the improvingyears, like government schools and setting up neighborhood clinics and providing -- in contrast, the bjp double down on the divisive issue of of religion-based devotedhip law and it much of its campaign to demonize in the demonstrators. we can see rofrom the outcome that that backfired on them. >> u.s. president donald trump
10:47 pm
announced yesterday he will visit india this month. what is he hoping to get from that visit? ruth: as we know, president trump is all about trade. there is an expectation that two countries will overcome their differences and work out a deal to reduce india's trade surplus with the u.s. this will follow his phase one trade pact with china that was done in december. a partial treaty with india could help trump get another cy victory in this all important election year for donald trump. >> politicians who want to unseat donald trump are having their next big test. bernie sanders leading in the new hampshire primary. we are joined from new york. so, it looks like it has been another very good night for bernie sanders and pete buttigieg.
10:48 pm
some extent the strength of bernie sanders should be no surprise. he is from neighboring vermont, state he carried easily in 2016 four years ago, he beat hillary clinton by 22 points. his lead is narrowing against former mayor pete buttigieg who has 24% of the vote. the big story of the night has senatorurprise surge of amy klobuchar, the moderate from minnesota, and third place. after a strong showing in the debates last week. the disappointments of the night have been for elizabeth warren and for former vice president joe biden who is in sixth place. neither of them were able to garner 10% of the vote with 68% of precincts reporting. new hampshire is a relatively small state. thenly has less than 1% of total in the democratic nomination contest. this really is about momentum.
10:49 pm
momentum. right now that momentum, sanders and buttigieg and klobuchar. they will try to ride that into the south carolina primary and that is where the biden is making their focus. biden left new hampshire and flew down to south carolina. it is a much more diverse state. it has 60% of voters and the democratic party that are black. it is a strength for joe biden. less so for the likes of buttigieg. andigieg was known in iowa new hampshire but those are overwhelmingly white state. s. if there is anything tonight shows it is about how the race is wide open at this point. >> more broadly, how is the turnout? it seemed low. >> that is a good point. new hampshire in 2016 had the strongest primary showing of any of the u.s. states.
10:50 pm
for a democratic party that ultimately primary focus is unseating trump that isn't not the strongest sign is we push forward with these primary races. >> thanks so mcuch for joining us. singapore earns praise for its handling of the coronavirus. we hear from the virus cochair lawrence wong about what singapore is getting right. this is bloomberg. ♪
10:51 pm
10:52 pm
i am laws haslinda amin coming to you live from the singapore airshow. [planes flying overhead, drowning out her voice] major companies being told to -- the temperature screening checkpoints being set up.
10:53 pm
last week, the city raised the disease level to the same grade used during the sara epidemic -- sars epidemic. lawrence wong is the cochair of singapore's virus task force. >> we are doing all we can with extra precautions, more proactive testing to detect cases. each time we detect one, we ring fence and tried to contain the spread of the virus. fif that is successful and we can maintain at this level and the to be like sars, situation will be under control and eventually go down. if it continues to worsen, we will not rule out more stringent measures. >> you're not ruling out the fact that we could go to red alert. >> it is not so much orange or red. but the more important matter is what additional measures we take. >> prime minister lee said fear
10:54 pm
can be worse than the virus. we saw that panic run and supplies which is worrying, when you try to buy hand sanitizer it is out. how do you stem the panic among the community? >> well, we understand why people would want to stockpile items in anticipation of a situation worsening. we try to explain several things. number one, we are not locking down the city. it is not as though you have to stockpile food in fear there is a severe lockdown. that is not happening. number two, while there may be some global scramble for certain medical equipment, face masks, that sort of thing, if you look at food items in general the supply chains have not been disrupted. they are still readily available. >> what kind of budget or relief measures will the government look at?
10:55 pm
sars. a $230 million for what have a billion dollars be in the ball park. >> find that in the budget which is coming up early next week. we are preparing for a strong package in the budget. we know there is an economic impact. already specific sectors are feeling it, tourism and hospitality. be on the sectors we think the broader knock on impact can be severe as well. china's economy will be impacted. supply chains already been disrupted. an impact on have the overall economy in singapore will be impacted in that scenario. so we are preparing for a strong package in the coming budget. >> that's singapore minister for national development, lawrence wong. let's get the quick check of the latest business flash headlines. a budget carrier little known theide of china -- as
10:56 pm
coronavirus outbreak hits the established giants. ahead.air has raced spring airlines launched in 2005, and has a network that includes japan, korea and southeast asia. shares are not down as much as its rivals. tesla's autopilot is under scrutiny after a new report gave a series of crashes. investigators say a model x that crashed into a bay area in california two years ago. came inst fatality florida when a model 3 drove into the side of a truck blocking the highway. t-mobile has won court approval for his $26 billion takeover of sprint. merger still needs approval from
10:57 pm
a federal judge in washington. a huge decision for t-mobile. wearombined company will the t-mobile brand and have a monthly subscriber base of 80 million users. despiteer the bell narrowing its net loss. investors seemed unimpressed by a rise in riders and the company's cost-cutting drive. $1 billione 52% to while lyft managed to halve its lost. lyft is forecasting current revenue ahead of wall street expectations. a quick check of the markets. most markets in positive territory. the hang seng up. the shanghai composite up 1/5 of 1%. the story for the cost become but taiwan up by 1%. that is it for bloomberg
10:58 pm
markets asian. . haslinda amin was with us in singapore. bloomberg daybreak middle east is next. ♪
10:59 pm
11:00 pm
>> our top stories this morning. it is a rough night for joe biden as bernie sanders and pete buttigieg lead in the democratic primary. we're live in new hampshire. president xi vows china will meet it is economic goals while. winning the battle against the coronavirus the death toll climbs past 1,1 00. virus powell warns the threatens close around the world after u.s. sticks ahead another high. lebanon weighs help from the imf. as the country faces its worst financial crisis in decades.


info Stream Only

Uploaded by TV Archive on